nick2497

GBPUSD Long --- Daily

Long
FX:GBPUSD   British Pound / U.S. Dollar
Simple One-legged pullback on a bull trend - higher highs and higher lows. Buying off a 36ema bounce, no sign of reversal or top yet, targeting the previous highs. Stop loss below swing low.
Look into H1/H4 to pinpoint good entries into a long. GL!

JUST A TRADING IDEA --- NOT AT INVESTMENT OPPORTUNITY! TRADE AT YOUR OWN RISK.
Comment: Very Simple analysis on Daily, on the H4 we had just broken a bearish flag formation and starting to make higher highs and higher lows. On H1, however, it looks like the move down was too large. I would suggest looking for entries on H1/H2 and waiting for higher high/higher low confirmation ABOVE 200ema, and then set TP1 to target previous highs of around 1.4160. .
Comment: PLEASE READ UPDATE TO THE ANALYSIS:
Strongly Bullish on Daily and looking for longs after a pullback. Looking for entry on H1. H1 looks potentially bearish, we will need to see a higher high/higher low structure holding on H1 ABOVE 200ema before we look to enter long. Right now this could be a potential bear flag pattern on H1, we wait for price to correct back into trend on H1 before entering long.
SAME SCENARIO FOR AUDUSD. Long on H4, look for good opportunity on M30/H1 to enter (in line with higher highs and higher lows, same as gbpusd suggestion).

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